The volume since June 5th on FDIT picked up quite a bit. Take the volume over 11 trading days from June 5th to June 20th the total volume was approx. 9 million plus shares. Compare that for the previous 12 months from June 4th 2019 to June 4th 2020 to total volume was approx. 13 million shares. Only 4 million shares more over a 50 week period versus 2 weeks.
In filings by the company Firth has not sold any shares in years. In fact a vast majority of the holdings by Firth and insiders has been voluntarily converted from preferred to common a few years back and remains locked up.
I have reviewed the IR firm that was recently hired and looked at their track record this year.
Here are a few over the past 6 months.
CODX was trading under a $1.00 at the end of 2019. It closed on Friday at $17.24 on 3,177,040 shares. When coverage began from the same firm as WAFU and the FDIT took on recently the shares were at around $1.13. Coverage began and volume went from 91,100 shares one day to 36,063,100 shares the next. The stock did not move much the first day which was odd. Or maybe not maybe the traders got caught off guard and traded it while sellers came in with the new found volume but as time went on and not much time the stock traded up from $1.13 on Jan. 9th to $15.96 close on Feb 27th. And like I wrote earlier closed at $17.24 yesterday.
WAFU So this one covered about 2 weeks ago. June 9th was at $2.13 on 27,500 volume day of coverage traded up to $15.39 closed at $7.15 on 65,019,500 shares. These are verifiable number not an opinion. On Friday the stock closed at $6.02 up approx. 300% from 9 days earlier when the coverage began.
